Principles of Public Utilities

Principles of Public Utilities

Principles of Public Utilities

Principles of Public Utilities

Excerpt

This book deals with the economics of public utilities, with primary reference to the utilities furnishing the following services: electric light and power, gas, street railway, telephone, and water. It does not deal with railroads; these give rise to such different problems as to make separate treatment advisable. Nor does it deal with a number of other utilities, such as express, motor bus, and telegraph. We make no apology for confining our treatment to the five utilities above enumerated; in fact, our task as thus circumscribed is very great, for it carries us well beyond the field of economics into the allied fields of law, engineering, political science, and accounting.

Throughout the book we have ever had in mind the public interest. The matters of which we treat are highly controversial in nature, and have frequently become the subject of bitter political controversy. We have discussed these questions in a scientific spirit, fully appreciative, we believe, of the splendid achievements, technical and otherwise, of the public utilities, and yet also aware of the fact that regulation has failed thus far to safeguard adequately the public welfare.

The book is designed to meet the needs of teachers and students of public utilities in universities and colleges, and to be of service to those interested in public utility problems, whether government officials, utility executives and employees, members of the various professions, such as editors, bankers, lawyers, and engineers, and last, but not least, the electorate.

To the following individuals, who have read those portions of the manuscript lying within their respective fields, we wish to express our indebtedness: E. A. Cottrell, Professor of Political Science at Stanford University; H. W. Gray . . .

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